Net sales for the three months ended May 2 rose to $1.56 billion from $1.35 billion a year earlier, Victoria’s Secret reported Tuesday. Same-store sales — a key retail metric that excludes newly opened or closed locations — climbed 13%. The company, which also owns the PINK brand for teens and young adults, earned $47.7 million, or 56 cents a diluted share, compared with a loss of $1.7 million, or two cents a share, in the same period last year. Both sales and earnings exceeded analysts’ forecasts and the company’s own guidance.
“We are really hitting our stride,” Chief Executive Hillary Super said in a statement. Super said the sales growth was broad-based but traced specifically to bras, an area where she has been trying to reassert the brand’s dominance. The company launched two new bras during the quarter, including a strapless style, and has more launches planned for this year.
“Bras brought along the other categories,” Super said. “When she buys bras, she’s the stickiest and comes back the most quickly.”
Victoria’s Secret now anticipates full-year sales of $7.03 billion to $7.13 billion, up from its prior guidance of $6.85 billion to $6.95 billion. For the current quarter, the company forecast sales of about $1.59 billion to $1.62 billion, above the $1.56 billion analysts polled by FactSet had projected.
The bullish outlook comes as Victoria’s Secret contends with pressure from billionaire investor Brett Blundy, who launched a proxy fight last month after the retailer denied him a board seat. Blundy’s private-equity firm BBRC International began building a stake in the company in 2022 and has pushed for changes since 2024.